The top 10 M&A deals of 2024 in Israeli tech
The top 10 M&A deals of 2024 in Israeli tech
Israeli startups shined despite challenges, driving $17B in M&A activity with four billion-dollar deals leading the charge.
Despite the ongoing war and a global environment of soaring interest rates—perhaps even because of them—the past year witnessed a significant surge in M&A activity by Israeli tech companies. Including secondary sales of public companies, the total value of M&A deals exceeded $17 billion.
In 2023, there was only one transaction exceeding $500 million, with none surpassing $1 billion. However, 2024 marked a dramatic shift, with four deals crossing the $1 billion threshold and nine deals valued at $500 million or more.
Below are the 10 largest mergers and acquisitions of Israeli startups in 2024. Notable deals that just missed the list include Zscaler acquiring Avalor ($350M), Wiz acquiring Gem Security ($350M), CrowdStrike acquiring Adaptive Shield ($300M), Applied Systems acquiring Planck ($300M), and Nvidia acquiring Deci ($300M).
The company, previously known as OwnBackup, develops data protection and data management solutions. It was valued at $3.35 billion when it raised a $240 million Series E in 2021.
The Israeli company was valued at less than $880 million prior to the deal, meaning the offer of $14 per share represented a 45% premium.
The Israeli-founded Resident, a leading digital retailer and wholesaler of mattresses and bedding accessories, is estimated to have registered revenue of $900 million in 2023.
The Israeli startup, which developed a system for fraud detection and financial crime prevention powered by behavioral biometric intelligence, finished 2023 with 49% ARR growth, whilst also surpassing the $100 million ARR milestone and attaining EBITDA profitability.
Additional contingent consideration of up to $1.25 billion is subject to SuperPlay achieving certain financial targets over the next three years. Founded in 2019 by former Playtika employees Gilad Almog and Eyal Netzer, along with industry veteran Elad Drory, SuperPlay has two successful titles in Dice Dreams and Domino Dreams, and has two more games currently in development.
Run:ai enables enterprise customers to manage and optimize their compute infrastructure, whether on premises, in the cloud or in hybrid environments.
V-Wave's device is implanted in the heart through a minimally invasive procedure to help reduce heart failure and other events.
The enterprise cloud applications company, which has a market cap of around $79 billion, will utilize the Israeli company’s AI-powered talent orchestration solutions to enable companies to use data-driven insights to improve recruiting and talent mobility processes.
The valuation reflects a premium of just over 100% on Innovid's last stock price on Wall Street but falls significantly short of the $1.3 billion valuation achieved during its 2021 SPAC merger.
10.
